Meats Futures Prices
- Paragon Investments' Futures File: NAFTA, Milk & Grains
This week we look at the impact of trade deals & weather on the markets.
- Shoot Out: Gunslingers vs. Commercials
An interesting scenario that...
- Will Volatility Continue into Month-End?
Grain markets are mixed on end of month position evening after a volatile week. Outside markets continue to monitor US budget and NAFTA negotiations....
- Hog Prices Hit A 2 Week High
Time to move on
- Margin Clerk Inspired Buying Expected Early in Live Cattle
First off, most importantly, Trump has stated he’s NOT looking to pull out of the NAFTA trade agreement but instead looking to renegotiate. The action...
- NAFTA Renegotiations Change Markets Focus
Grain markets are range bound with some bargain hunting after the President clears up his stance on NAFTA. The US Dollar Index retreats due to strength...
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Live cattle futures rose sharply again on Friday, up $1.575 to $2.50. April expired today at $138.00 catching up with cash trade. Over the week June was 6.28% higher, rising 11.86% on the month of April. Feeder Cattle futures finished $2.775 to $4.35 higher, after Thursday’s limit up trade. May feeders were up 7.4% on the week and 12.7% in April. The CME feeder cattle index was at $141.38 on 4/27, up $1.52 from the previous day. Wholesale beef prices were sharply higher in the afternoon report. Choice boxes averaged $221.78, up $2.63, with select gaining $1 with an average price of $207.68. Weekly FI cattle slaughter is estimated at 624,000 head through Saturday, up 29,000 from a week ago and 34,000 head from the same week in 2016. Managed money added another 6,822 contracts to their net long position in cattle futures and options. Apr 17 Cattle settled at $138.000, up $2.400, Jun 17 Cattle settled at $124.025, up $2.500, Aug 17 Cattle settled at $120.050, up $2.275, May 17 Feeder Cattle settled at $149.550, up $2.975 Aug 17 Feeder Cattle settled at $154.700, up $4.350 Sep 17 Feeder Cattle settled at $154.650, up $3.875
Lean hog futures closed the week 22.5 cents to $1.20 higher on most contracts. May was 6.27% higher on the week. The CME Lean Hog Index for 4/26 was down another 22 cents to $59.71.The USDA pork carcass value was up 81 cents in the afternoon FOB Plant report, with an average of $74.46. Only the belly and rib primals were lower. National cash hog base prices averaged 75 cents higher in the afternoon report, with a weighted average of $56.21 and a range reported from $51.00-$59.00. Weekly FI hog slaughter including Saturday is estimated at 2,290,000 head, 3,000 above last week and 154,000 head larger than the same week in 2016. The Commitment of Traders report had spec traders lowering their net long position by 7,523 contracts to only 10,657 contracts in lean hogs options and futures. May 17 Hogs settled at $66.975, up $0.075, Jun 17 Hogs settled at $74.000, up $1.175 Jul 17 Hogs settled at $75.225, up $1.200